Discussion in 'BBS Hangout' started by bobrek, Mar 16, 2017.
We make sure to get out to Hawaii or Mexico every November or December and January or February.
There you go. Time to spoil them! (assuming they live near you)
Past 2 generations of males in my family have died at 57 and 50. I'll be 51 when I send my son off to college in 4 years. I'm thinking of selling all my worldly possessions, buying a conversion van and traveling the country for the rest of my days.
Enjoy your retirement
They already get plenty spoiled. The live about 2 hours from us and we have a lake house about 6 miles from them, so I'll be spending more time there.
You were only in your forties when you joined CF....
For some reason that was the first thought that hit me. But congrats. Stay young.
Most people do not have enough to retire really comfortable. I made my kids and grandchildren put at least $150. a month into a retirement account starting when they get their first real job, usually when they are 20 to 23 years old. It takes some persuading for some of them put I make them put it on paper so they can understand that they will be able to retire by the time they turn 50ish
I HAVE BEEN RETIRED SINCE 1992 AND AM RUNNING OUT OF STUFF TO DO.
Good for you! My plan is to retire from my full-time rat race career between 45-50. Then maybe work another 5-10 years doing something I really enjoy that is less about the money. Definitely want to fully retire by 55.
Good job. I had someone sit me down and explain to me the importance of contributing to your 401k. It has just been over a year and I am SOOOO glad I did. It has performed well so far and I have way more money in there than I was expecting. If I didn't have that manager push me I don't know that I would have started contributing the amount I did.
I'm currently putting away about 18% of my income between my 401K (13%) and my company pension (free money - 5%). I also put about $100-$150 into a Roth IRA that I have, and then contribute more to that when I can. All the calculators tell me I need to put more away (just a couple more percent). But I'm hoping to just keep some money set aside to invest in some real property and maybe have a rental or two paid off when I retire, that can produce good cash flow to supplement the other retirement streams.
My long term plan too.
Hoping to have my (1) rental paid off in the next 5 years, then use that cash flow to save and pay cash for another rental, and so on, and so on, and so on.... My folks did this and now have 9 paid-for rental properties. Then we can both retire when the kids go to college and live off our retirement savings and rental income.